- Kazakhstan President Kassym-Jomart Tokayev seeks to accumulate more crypto via seizures.
- Kazakhstan’s NIC to channel seized crypto into Alem Fund to boost national reserves.
- Alem Crypto Fund aims to position Kazakhstan as a Central Asian crypto hub.
Kazakhstan has unveiled a similar plan to the United States in order to accumulate crypto. Under the leadership of President Kassym-Jomart Tokayev, the National Bank of Kazakhstan (NBK) announced plans to accumulate more crypto assets for the country’s reserves via seizures with the help of its National Investment Corporation (NIC).
Kazakhstan Central Bank To Boost Alem Crypto Fund With Seizures
According to the NBK, its investment arm, NIC, will consolidate all crypto assets seized by the different law enforcement agencies. As such, the NIC will boost the Alem Crypto Fund with foreign currency and gold reserves.
The country has tightened its crypto regulations to curb crypto-related crimes, especially organized syndicates. According to President Tokayev, the police in Kazakhstan have already shut down 130 unregistered crypto exchanges that generated combined revenue of more than $124 million.
A budget-neutral approach to accumulating more crypto assets for the national reserve has been implemented by President Donald Trump in the United States in 2025. The Department of Justice (DOJ) helped increase the United States Strategic Bitcoin Reserve to more than 325K BTC.
Market Picture
According to NIC, the Alem Crypto Fund has partnered with several hedge funds to facilitate the acquisition and custodial services of crypto assets. Furthermore, the country has already invested $5 million in crypto through a diversified portfolio.
Notably, the NIC has earmarked more than $300 million in overseas currencies and gold to build the Alem Crypto Fund. According to Timur Suleimenov, the head at NIC, the Alem Crypto Fund will help Kazakhstan become a Central Asian crypto hub.
The NIC has closely partnered with Binance to elevate the Web3 skills in Kazakhstan. Kazakhstan has purchased Binance Coin (BNB) for its Alem Crypto Fund, as reported by Changpeng Zhao.
Why Now?
Kazakhstan’s move to accumulate more crypto assets through seizures is a tactical move. At the top of the list, President Tokayev will help improve the country’s financial situation, fight crime, and solidify his political influence.
“Money laundering and the illegal withdrawal of money through underground cryptocurrency operations have become a serious problem,” President Tokayev said.
According to President Tokayev, the core issue of cash-for-crypto exchanges remains a threat to the country’s economic security. As such, President Tokayev ordered the Financial Monitoring Agency to make specific regulatory proposals to fight crypto-related crimes.
In return for accumulating more crypto for the Alem Crypto Fund, Kazakhstan will benefit from the expected crypto bull market, which will be catalyzed by institutional capital and clear regulatory frameworks around the world.
Related: Kazakhstan Passes New Laws to Regulate Crypto, Digital Assets, and Fintech
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Source: https://coinedition.com/kazakhstan-plans-to-build-crypto-reserves-using-seized-assets/